Economic data highlights euro and pound sterling


Early in the day:

It was a busier start to the day on the economic calendar this morning. The Kiwi dollar and Australian dollar were in action, with UK economic data also taking center stage.

For the Kiwi Dollar

In September, retail sales of electronic cards rose 0.90% month-on-month, after falling 19.7% in August.

According to New Zealand statistics,

  • The resumption of spending is the result of changes to COVID-19 alert levels.

  • With the exception of Auckland, the levels have gone from level 3 to level 2.

  • Spending increased in three of six retail sectors.

  • Spending on durable goods jumped 17.5%.

  • In contrast, spending on groceries and alcohol fell 3.3%.

  • In the September quarter, retail spending was down 11.6% from the June quarter.

The Kiwi dollar fell from $ 0.69320 to $ 0.69339 when the data was released. At the time of this writing, the Kiwi Dollar was down 0.20% to $ 0.6926.

For the Australian dollar

The NAB Business Confidence Index fell from -5 to +13 in September.

According to the September survey,

  • The rebound lifted the index well above its long-term average, with confidence in NSW and Victoria providing support.

  • Rising vaccination rates and the announcement of the reopening of roadmaps have boosted confidence.

  • On the other hand, the economy went from +14 to +5 points.

The Australian dollar fell from $ 0.73423 to $ 0.73402 when the figures were released. As of this writing, the Australian dollar has lost 0.16% to $ 0.7339.

Somewhere else

At the time of this writing, the Japanese yen was down 0.13% to 113.460 against the US dollar.

The day to come

For the euro

It’s a relatively calm day ahead on the economic calendar. The ZEW sentiment figures for Germany and the Eurozone will be the focus of our concerns later today.

There has been increased sensitivity of the euro to ZEW numbers in recent months, so expect the numbers to influence.

At the time of this writing, the Euro was down 0.01% to $ 1.1551.

For the pound

It’s a busy day on the economic calendar.

Wage growth, the number of applicants, employment trends and unemployment figures are expected later this morning.

As the BoE stands ready to act to curb inflation, expect bullish numbers to give the pound a boost.

The number of applicants and the unemployment rate are likely to be the main areas of interest.

At the start of the day, retail sales figures had been the center of attention.

In September, the BRC Retail Sales Monitor fell 0.6% year-on-year. Retail sales rose 1.5% in August, according to the BRC.

At the time of this writing, the pound was down 0.07% to $ 1.3586.

Across the pond

It’s a calm day ahead, with economic data limited to JOLT vacancies for August. Following last week’s weaker-than-expected NFP numbers, markets will be more sensitive to any weak numbers.

On the monetary policy front, any chatter from FOMC members will also need to be watched.

The US dollar spot index rose 0.09% to 94.401.

For the loonie

It’s another particularly calm day ahead for the Loonie.

In the absence of statistics to take into account, the loonie will remain in the hands of crude oil prices and market risk sentiment that day.

At the time of this writing, the loonie was down 0.07% to C $ 1.2492 against the US dollar.

For an overview of all of today’s economic events, check out our economic calendar.

This article originally appeared on FX Empire

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